Vietnam Launches Pilot Licensing Regime for Crypto Exchanges
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Vietnam initiates a 5-year pilot program to license crypto exchanges, requiring firms to have a charter capital of VND 10,000 billion. Applications are now open, but no licenses have been issued. This marks Vietnam's first effort to regulate its unregulated crypto market.
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- Vietnam starts a 5-year pilot to license crypto exchanges under formal oversight.
- Only licensed firms with VND 10,000 billion charter capital can run crypto platforms.
- Vietnamese banks and brokers are preparing applications, but no licenses issued yet.
Vietnam has opened applications for a five-year test licensing program for crypto asset exchanges, marking its first formal move to regulate a market that has operated without a defined legal framework for years. The Ministry of Finance confirmed that businesses can now submit applications under Decision No. 96/QD-BTC, which also introduces new procedures governing the issuance, modification, and revocation of licenses for virtual asset service providers.
The pilot framework follows Government Resolution No. 05/2025/NQ-CP, issued in September, which authorized a controlled trial period to test crypto trading activit…
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